Steel Exchange India board approves conversion of 8.04 crore warrants at Rs 9.45/share

• Type of action: Conversion of warrants into equity shares (preferential basis)
• Number of warrants converted: 8,04,23,279
• Face value of equity shares: Rs 1/- each
• Issue price for conversion: Rs 9.45/- per equity share (including a premium of Rs 8.45/- per share)
• Warrant holders (non‑promoter group):
  • M/s. India Coke and Power Private Limited
  • M/s. IMR Steel Private Limited
• Total warrants originally issued and allotted to these holders: 31,74,60,300
• Warrants converted by each holder (board’s outcome letter table):
  • M/s India Coke and Power Private Limited: 6,63,13,932
  • M/s IMR Steel Private Limited: 1,41,09,347
  • Total converted: 8,04,23,279
• Balance warrants remaining for conversion (board’s outcome letter table):
  • M/s India Coke and Power Private Limited: 9,24,16,218
  • M/s IMR Steel Private Limited: 14,46,20,803
  • Total outstanding warrants: 23,70,37,021
• Post‑conversion share capital (board’s outcome letter):
  • Increased from Rs. 1,27,55,18,412/- to Rs. 1,35,59,41,691/-
  • Comprising 1,35,59,41,691 equity shares of face value Rs. 1/- each

According to the board’s outcome letter on November 04, 2026, the company states that this step follows an earlier intimation dated April 20, 2026. The conversion is being done “pursuant to the receipt of conversion request letters from warrant holders belonging to the non-promoter group” and upon receipt of the balance 75% of the issue price in respect of the warrants proposed to be converted.

The filing further clarifies that the equity shares proposed to be allotted will be issued in dematerialized form, and that the equity shares so allotted shall rank pari passu with the existing equity shares of the Company in all respects.

The warrants being converted were already issued earlier on a preferential basis to the two named non‑promoter entities. Only these warrant holders are eligible for this specific conversion and allotment. Existing equity shareholders who do not hold these warrants are not part of this corporate action and do not need to take any action for this conversion.

The increase in issued, subscribed and paid‑up share capital from Rs. 1,27,55,18,412/- to Rs. 1,35,59,41,691/-, as stated in the board’s outcome letter, reflects the additional equity shares created on conversion of the 8,04,23,279 warrants.

Investors searching for “Steel Exchange India buyback”, “Steel Exchange India bonus issue” or “Steel Exchange India dividend record date” should note:

• The outcome of the board meeting dated 04th November, 2026, does not mention any buyback of shares.
• It does not announce any bonus issue or specify any bonus ratio.
• It does not declare any dividend and does not specify any record date or ex‑date for dividend or any other distribution.

The other major item of business recorded in the same filing is the approval of the Standalone & Consolidated Un‑Audited Financial Results for the quarter and half year ended 30th September, 2026, along with limited review reports, pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as described in the statement of financial results.

The filing records that the Board Meeting of the company commenced at 11.00 AM and concluded at 12:50 PM on 04.11.2026. It does not provide a separate timetable, record date or ex‑date for the warrant conversion or for any other corporate action.

For investors, the key takeaway from this particular disclosure is that Steel Exchange India Limited has increased its equity share capital through conversion of warrants held by specified non‑promoter entities, and that no buyback, bonus or dividend‑related dates are specified in this document.